Gems and Jewellery
Lab-Grown Diamonds
How diamonds grown in factories became chemically identical to mined ones at a fraction of the price, and why India became a major producer.
Lab-grown diamonds are real diamonds made in factories.
How they’re made
- HPHT (high pressure, high temperature) mimics Earth’s conditions.
- CVD (chemical vapour deposition) grows diamonds layer by layer from gas.
Identical
They’re chemically, physically and optically the same as mined diamonds; special equipment is needed to tell them apart.
Prices
- Lab-grown diamond prices fell sharply, to a small fraction of mined diamond prices.
- Their share of engagement rings in the US rose rapidly.
India’s role
- India became a major producer of CVD lab-grown diamonds, especially in Surat.
- The 2023 Budget cut customs duty on seeds used to grow lab diamonds and funded research at IIT Madras.
Effects on natural diamonds
- Natural diamond prices fell.
- Mining companies and Surat’s natural diamond polishers struggled.
Consumer debate
- Supporters: cheaper and without mining impacts.
- Critics: energy use, and they may lose value over time.
The price comparison
A couple compares a one-carat mined diamond and a lab-grown one that look identical; the lab-grown one costs a fraction of the price.
Thinking lab-grown diamonds are fake
They're real diamonds made in factories.
Key takeaways
- Lab-grown diamonds are chemically identical to mined ones.
- They're made by HPHT or CVD methods.
- Prices fell sharply, hurting natural diamond prices.
- India, especially Surat, is a major producer.
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